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IRESS Market Technology Limited (ASX:IRE) has launched a wealth management division in the UK, building on its global presence in Australia, South Africa, New Zealand and Canada.
Under the long term deal IRESS will provide the UK’s biggest retail financial advisor, Sesame Bankhall Group, with front and back-office technology solutions.
The UK division will be run by a local management team from financial services consultancy, AT8 Group.
IRESS managing director Andrew Walsh says the company was selected against strong global and UK based competition and that the UK market represents a strategic growth opportunity.
In the first half of the 2011 financial year IRESS Market Technology reported a 7.9 per cent fall in its net profit, coming in at $21.7 million.
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